MQ Concept: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
MQ Concept
Largest movements
- Tangible fixed assets +€92,857
up €92,857 (+143.7%), from €64,621 to €157,478
of which Leasing and similar rights: +€61,566
- Receivables within one year +€22,491
up €22,491 (+436.0%), from €5,159 to €27,650
of which Trade receivables: +€17,633
- Cash -€3,602
down €3,602 (-28.1%), from €12,822 to €9,221
mainly Investment in fixed assets (net) (-€112,491) and Receivables within one year (-€22,491)
- Debts after one year +€54,337
up €54,337 (+1097.7%), from €4,950 to €59,288
- Profit (loss) carried forward +€21,822
up €21,822 (+87.2%), from €25,036 to €46,858
- Other debts +€20,352
up €20,352 (+77.3%), from €26,326 to €46,677
- Current portion of long-term debt +€17,189
up €17,189 (+142.0%), from €12,107 to €29,296
- Trade debts -€4,098
down €4,098 (-39.8%), from €10,310 to €6,212
- Depreciation +€4,117
up €4,117 (+26.6%), from €15,499 to €19,616
- Financial charges +€1,766
up €1,766 (+76.6%), from €2,305 to €4,071
- Taxes -€1,700
down €1,700 (-27.4%), from €6,200 to €4,500
- Gross operating margin +€1,292
up €1,292 (+2.6%), from €49,409 to €50,701
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €89,657 | €202,201 | +€112,544 | +125.5% |
| Fixed assets | 21/28 | €64,643 | €157,518 | +€92,875 | +143.7% |
| Tangible fixed assets | 22/27 | €64,621 | €157,478 | +€92,857 | +143.7% |
| Plant, machinery and equipment | 23 | €49,430 | €50,208 | +€777 | +1.6% |
| Furniture and vehicles | 24 | €15,191 | €45,705 | +€30,513 | +200.9% |
| Leasing and similar rights | 25 | - | €61,566 | +€61,566 | |
| Financial fixed assets | 28 | €22 | €40 | +€18 | +81.8% |
| Current assets | 29/58 | €25,014 | €44,683 | +€19,669 | +78.6% |
| Amounts receivable within one year | 40/41 | €5,159 | €27,650 | +€22,491 | +436.0% |
| Trade receivables | 40 | €479 | €18,112 | +€17,633 | +3678.6% |
| Other amounts receivable | 41 | €4,679 | €9,538 | +€4,858 | +103.8% |
| Cash at bank and in hand | 54/58 | €12,822 | €9,221 | -€3,602 | -28.1% |
| Deferred charges and accrued income | 490/1 | €7,033 | €7,813 | +€779 | +11.1% |
| Total equity and liabilities | 10/49 | €89,657 | €202,201 | +€112,544 | +125.5% |
| Equity | 10/15 | €28,036 | €49,858 | +€21,822 | +77.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,036 | €46,858 | +€21,822 | +87.2% |
| Amounts payable | 17/49 | €61,621 | €152,343 | +€90,722 | +147.2% |
| Amounts payable after more than one year | 17 | €4,950 | €59,288 | +€54,337 | +1097.7% |
| Financial debts | 170/4 | €4,950 | €59,288 | +€54,337 | +1097.7% |
| Amounts payable within one year | 42/48 | €56,671 | €93,055 | +€36,384 | +64.2% |
| Current portion of amounts payable after more than one year | 42 | €12,107 | €29,296 | +€17,189 | +142.0% |
| Trade debts | 44 | €10,310 | €6,212 | -€4,098 | -39.8% |
| Suppliers | 440/4 | €10,310 | €6,212 | -€4,098 | -39.8% |
| Taxes, remuneration and social security | 45 | €7,928 | €10,870 | +€2,942 | +37.1% |
| Taxes | 450/3 | €6,428 | €10,870 | +€4,442 | +69.1% |
| Remuneration and social security | 454/9 | €1,500 | - | -€1,500 | |
| Other amounts payable | 47/48 | €26,326 | €46,677 | +€20,352 | +77.3% |
| Non-recurring operating income | 76A | €51 | - | -€51 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,499 | €19,616 | +€4,117 | +26.6% |
| Other operating charges | 640/8 | €370 | €713 | +€343 | +92.7% |
| Gross operating margin | 9900 | €49,409 | €50,701 | +€1,292 | +2.6% |
| Operating profit (loss) | 9901 | €33,539 | €30,372 | -€3,168 | -9.4% |
| Financial income | 75/76B | €2 | €21 | +€19 | +1190.1% |
| Recurring financial income | 75 | €2 | €21 | +€19 | +1190.1% |
| Financial charges | 65/66B | €2,305 | €4,071 | +€1,766 | +76.6% |
| Recurring financial charges | 65 | €2,305 | €4,071 | +€1,766 | +76.6% |
| Profit (loss) for the period before taxes | 9903 | €31,236 | €26,322 | -€4,914 | -15.7% |
| Income taxes | 67/77 | €6,200 | €4,500 | -€1,700 | -27.4% |
| Profit (loss) for the period | 9904 | €25,036 | €21,822 | -€3,214 | -12.8% |
| Profit (loss) for the period to be appropriated | 9905 | €25,036 | €21,822 | -€3,214 | -12.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.